Now that online casino and mobile sports betting is a solid thing in New Jersey, we’re starting to see droves of people come from NY to get in on the action! In fact, statistics show that NJ sportsbooks are crushing land-based betting 4-1. Which, kind of comes as no surprise considering the proximity of NYC to the Garden State. The truth is, if you time it right, you could be across the border and having fun in less than five minutes!
Welcome to NJ
According to James Chisholm, a spokesman for DraftKings (DK), New Yorkers are downloading the app and heading to border towns like Fort Lee, NJ. He also thinks that NY State is aware of the tax loss and expects that to change soon. However, that might not affect NJ sportsbooks in the long run. The truth is, nobody does it better than NJ. And once NY goes live, it’s likely we’ll see special promos and deals that will still attract New Yorkers.
At the moment, DK said about 90% of gambling activity is by way of their mobile sports betting app. Plus, they see roughly 53,000 bets per day! Which, is about 300% higher than company projections. For now, Betfair Fanduel has not reported any figures of this genre, but surely they’re also seeing a lot of traffic coming from the big apple too.
This Is Only the Beginning
By all means, sports betting in the US isn’t going anywhere, and it’s only getting better. In 2017 legal sports betting generated $270 Million. Looking ahead, analysts say these figures could easily reach $2-$6 Billion in the next five years! So, that should give you some insight as to where this is all going. What’s more, a recent study showed that about 71% of bettors wouldn’t move their bets to a legal market if restricted to only land-based casinos. Which means, mobile sports betting is the only way forward.